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Fix-and-Flip Lender Genesis Capital Sells for an Undisclosed Sum

Genesis Capital, a lender focused on fix-and-flip investors and small landlords, has been sold to New York-based real estate investment trust New Residential. So reports Bloomberg.

Goldman SachsSherman Oaks, Calif.-based Genesis was previously owned by Goldman Sachs affiliates.

Genesis is reportedly on track for roughly $2 billion in loan originations this year and has 170 employees. Financial terms of the deal weren’t disclosed.

Read the full article from Bloomberg.

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